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‘No longer needs to be biggest’
17 June 2008
Maersk to refocus and simplify structure
A shift in strategy is underway at AP Moller-Maersk which will see a simplification of the old-style conglomerate structure. In an interview with the Financial Times newspaper, Maersk CEO Nils Smedegaard Andersen said the company is to relax its vertical integration policy which states that it should be self-sufficient in the provision of services for the oil/gas and shipping activities.
And the company will no longer seek to be the biggest player in all key liner trade routes. The port activities, APM Terminals, will have to seek more third party business.
Andersen said his priority is to restore profitability at Maersk Line, which continues to struggle since the acquisition of P&O Nedlloyd three years ago.
“We want to take this Maersk Line wake-up call and use it as an incentive to drive a simplification throughout the company,” he told the paper.
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